- Knowledge Base Categories:
- School Accounting System
- Payroll
- End of Calendar Year
Training Tidbit: With the Paperwork Burden Reduction Act and Employer Reporting Improvement Act recently signed into law, do I still need to print 1095-B or 1095-C Forms for employees?
The Paperwork Burden Reduction Act and Employer Reporting Improvement Act were recently signed into law (signed the end of December 2024), and affect the Affordable Care Act reporting requirements starting with the 2024 calendar year. The change allows employers an alternative option to furnishing 1095-B or 1095-C Forms (whichever is applicable to your organization) to employees – employers are now able to provide employees with a notice that a copy of their 1095-B or 1095-C Forms are available upon request. The notice must be “clear, conspicuous, and accessible” to employees. And if an employee requests a 1095-B or 1095-C Form (whichever is applicable to your organization), the form must be provided by January 31 following the coverage year (for 2025, this was extended to March 2, 2026), or 30 days after the date of the request.
Keep in mind, the copies of the 1095-B or 1095-C Forms (whichever is applicable to your organization), along with the corresponding 1094 Form, are still required to be submitted to the IRS. For more information on the steps required to be completed for the end of the calendar year for the Affordable Care Act reporting in Payroll, refer to Step 5 on the Payroll End of Calendar Year Checklist.